Beef Buzz News
CFAP Payments For Cattle Producers Close To Estimated Losses Says OSU's Derrell Peel
Wed, 27 May 2020 10:11:37 CDT
The Coronavirus Food Assistance Program (CFAP) payments headed to farmers and ranchers are designed to reflect actual losses for beef producers. The cattle industry put together a task force directed by Dr. Derrell Peel, OSU livestock market economist, to look at the losses in the early days of the pandemic. Radio Oklahoma Farm Director Ron Hays talked with Dr. Peel about the CFAP payments matching the actual losses for producers.
Ron Hays Beef Buzzes With Derrell Peel
Producers who sold feeder cattle during this period, their payments are going to be close, Peel said.
For fed cattle sold between Jan. 15 and April 15, the numbers are also going to be close, Peel said, but it doesn’t cover what has happened since then.
On the cow/calf level, Peel said he is still trying to figure out all the pieces of the calculations.
I think we’re coming in at around 50 to 55 percent of the damage estimate, which is about the same proportion available to the whole pot of money, Peel said.
Moving forward from this point, the OSU livestock economist says this is a survival year.
We’re on the defensive, he said.
For cow/calf producers with fall calves it’s a wait and see what happens situation, Peel said, as there is a reasonable chance that market could be fairly strong this fall. It all depends on where the economy lands after we get this virus under control.
Feedlots have huge challenges until we get into the fall when lower placements help work through the backlog, he said.
Peel added on the backside of this pandemic crisis, there will be some good opportunities.
Later this year Peel expects tighter supplies of market ready cattle, probably around Labor Day, based on current numbers in the feedlots.
Click on the LISTEN BAR below to hear more of Ron’s interview with Dr. Peel.
The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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